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of commerce for international trade. always a pleasure to see him. thanks for coming in. >> thank you, david. david: what do you think about all the reports about the china slowdown? >> it is true china is growing less than its peak rate but will still be a very healthy at 7%. the important point, david, if the economy is growing at 7%, consumer spending is growing probably at 30% or so. david: when i hear numbers, as much as you deal with the chinese government you have to be skeptical of these numbers when you hear them, right? >> i think it is very hard to get precision in these numbers but we know there is a lot of good news in the consumer space when yum announces it opened its 4,000th kfc restaurant in china. when starbucks says china will be the second largest market after u.s. when great companies like pepsi and nike are hitting 30% growth rates we know there is a lot of good news in the consumer products sector in china. david: we do know that good news but there is also other news coming out. of course federal express telegraphed that a couple weeks ago when fred smith came out. fe
and republican george allen, hosted by the fairfax county chamber of commerce. i am a moderator of today's event. i want to cover the rules of today's event. it will last one hour and will begin with opening statements, and then the panelists and i will pose questions. those questions are determined by the panelists, by us. they have not been reviewed by the fairfax chamber. each candidate will have one minute, 30 seconds to respond, and there will be an additional one-minute rebuttal. i reserve the right to be able to follow up with some questions as i see fit as the moderator. we will end with a two-minute closing statement from each candidate. there is a clock in front of each candidate noting the time. we have the northern virginia no bureau chief -- the northern virginia wrote -- northern virginia bureau chief with us, and there is a man who joined "the washington post" after being with another organization. and a man that attended virginia commonwealth university is with us. let's begin by hearing the candidates and their opening statements. the order was determined by a coin toss earlier
works in real estate, chris who works in advertising and christian who works in e- commerce, following fashion is nothing new. >> i used to read g.q. growing up and that's something that i always wanted to aspire to. >> i follow lots of sites, lots of blogs. >> reporter: the internet has made men's fashion more accessible. fashables.com caters to men and women, it's a blog created by "normalish" people. >> what i try to do is highlight stuff for the average person. what are you going to wear to work. what are you actually going to wear on the weekend. >> reporter: so, where are "normalish" men shopping these days? >> i do like department stores. i like the different selection they have. i like to try new brands. i feel like i can discover new brands better than if i just go to select stores. >> for basic things, it's j.crew and brooks brothers. >> i think i go with mass market. h&m, uniqlo, zara. i'm a big fan of zara. >> reporter: across the board, the numbers show men are shopping. according to n.p.d. group's consumer tracking service, in 2011, sales of menswear climbed 4% to $55 bil
the unemployment will not rise further. also today, the commerce department reported retail sales jumped 0.9% in august. that's the largest increase since february. the gains come as consumers are spending more on cars and gasoline. the report showed that sales at different retailers were mixed and suggested on a modest increase in consumer spending this quarter. today's news comes just a day after the federal reserve stepped in once again to revive the economy, and ben bernanke's promise to help main street. how will main street americans do under q.e.3? joining us to answer that, robert brusca, chief economist at his own firm, fact and opinion economics. hi, bob. >> hi, susie. >> susan: all right, so, chairman bernanke says this latest round of stimulus is a-- to ote his words-- a main street policy. is it really? >> well, i think it has the focus on main street. i think the objective is to help main street. but it doesn't really work to help main street first. it's really going to work by trickle down. it's anything to work through wall street. it's going to work through high-income pe
gravitas behind it. and there's hope the worldwide commerce will pick up. that's how federal expressi can levitate to where it was. taking en masse, and those are en masse hope stocks, these groups are but a small percentage of the entire u.s. stock market that's rally. that's what matters to me. this is what brings me to the real takeaway. i think this rally is not about hope. i think it's about cold, hard facts and believe it or not the facts for many sectors are really pretty darn good. so let's get to those. first, this is a rally about cds, certificates of deposit. the returns you're getting on these are reminiscent of what a checking account used to offer you versus a savings account in the old days the disparity was so great that you would do anything to keep money out of your checking account. now many people are willing to accept these ridiculous rates for their savings accounts. plus people own bond funds that could get hammered if rates eventually go up. how can they do this in good conscience? but some folks aren't. some folks really get it. some are buying dividend paying sto
have always said that change takes more than one term. lou: but can we afford another term? commerce department today revising real second-quarter gdp growth down to an anemic 1.3%. down from the previous of 1.7%. it is the lowest reported growth rate since the third quarter of last year. bad news in the manufacturing sector as well. orders for durable goods plunged more than 13% in august. since the month president obama took office, much worse than economists had feared. alan krueger writing that we are making progress and the last thing we should do, said this economist, is returned to the economic policies that failed us in the past. his predecessor in the white house, austan goolsbee had predicted earlier this year that economic growth is your own 10 year would be a big obstacle to the president's reelection. >> i would say if the economy is growing 3% or above, the presidents would have major headwinds. he will be facing trouble for it. lou: recent polls show incredibly that the romney campaign has been unable to capitalize on the president's economic policy failure. >> we will
chinese economy. the great growth engine -- the great engine of growth that has supported global commerce for years. >> all aboard! >> including the darkest days of the dark recession. what's happened? stock market never quit, never stopped climbing. it's had a remarkable run with every sector leading the charge at one time or another. before i get into the big remonstrations for the evening. i have gotten the big picture right. the europe, the slowdown of china and the perma low growth, the united states. some income producers, growth names and stocks with solid dividend boosts and, of course, some gold. these have been the correct calls to make. i've stuck with this market because i believe europeans are not suicidal. so far so good on that front. at least of late. i believe chinese economy will simply come back by virtue of the fact there's a tremendous urban migration within china. i believe the federal reserve's stance, brought about you by ben bernanke, will serve as a bridge over fiscal cliff and not take us down. the federal stance will take higher paying dividend companies into g
of navigation occurs through that very critical strait. it is well-known the amount of trade and commerce that goes through there. so just take a look what goes through there. liquified natural gas, huge product that comes out of the country of qatar. oil products imports, exports. not only impacts the united states but very much asian countries. japan gets 3/4 of all her fuel and resources from this region. china 50% of all her resources. so our job here is just make sure that stays open. we do have resources to do that. we go through the strait of hormuz not necessarily looking but making sure we're continuing to move back and forth and everybody has freedom of navigation through that route. >> you mentioned how much oil and liquified natural gas and fuel, asia gets through the straight. some made the argument they should be the ones out here patrolling. how do you feel about that? >> we have the resources to do it. it is a global economy. it is not just about our navy. you heard this line saying we're a global force for good. it isn't just for the united states. it is for the world. ad
chamber of commerce today. president obama is firing back by linking romney to another figure who's somewhat better known, george w. bush and his tax cuts. here's the president in cincinnati today. >> they don't want to tell you their plan. the reason is because the plan they've got is the same one that they've been offering for decades. tax cuts. tax cuts. got a few regulations and then let's try some more tax cuts. tax cuts in good times. tax cuts in bad times. >> of course, the issue of trade is also front and center today. the president announced wto case against china for, in his view, unfairly subsidizing auto parts. he made that case to try to win votes from ohio workers. mitt romney himself is also proposed a crackdown on china is saying he declared currency manipulator on day one of his presidency. >> thank you so much. john harwood there. >> the dow down 5 5 points. looks like we may have another down monday. >> serving up holiday sales. mcdonald's delays its popular mcrib sandwich until late december. >> say it's not so! it's your favorite, maria! >> smart move or warni
a foot hold. romney was in los angeles talking to the u.s. hispanic chamber of commerce, obama campaigning in battleground ohio. cnbc eamon javers joins us now with some of the details. good evening. >> reporter: campaigning in ohio today president barack obama told voters there about the federal government about the wto complaint against the chinese government. the president saying chinese subsidy for the auto industry will hurt american workers. >> these are subsidies that hurt american men and people on the assembly lines in ohio, michigan and across the midwest. >> reporter: mitt romney spent part of his day today pushing against media reports that his campaign is in disarray including in this interview he conducted earlier today with telemundo. >> i've got a terrific campaign. my senior campaign people work extraordinarily well together. i work well with them. our campaign is doing well. >> reporter: but you could see some strategy in the romney campaign. injecting more specifics of spending cuts that he would like to see into a standard stump speech. take a listen. >> i'
of these issues. but the absolute core issue is bankers are meant to help service commerce, not be a barrier that gets in the way. >> reporter: so this commission will be looking at regulation and potential policy changes around uk banking. they'll report back with proposed legislation, coming into christmas. december 18th is when they're expected to report. lots more evidence expected to be reported. >> thank you so much. james ferguson is still with us. there's so much going on with the uk. what is interesting is we're trying to -- the uk is setting up its own regulations, whether we're heading into direct conflict with the what the eu might be proposing because they're going to rip up the eba and have extended powers over uk banks, whether we're heading for a collision here. >> if europe's problem is that everyone has the same policy but all have different fiscal policies, different tax rates, we've got the same issue potentially brug here with banking.ewing here with banking. if they have to be bailed out by the taxpayers, which tax pay sne ers? maybe we should make the decision whether
of egypt don't do this and certainly the people in the modernized sector, business and commerce, every day fluent in english and working with the west and cutting business deals and generate jobs and keep the economy of egypt moving or get it moving again, these people have nothing to do with this. this is a very, very small minority. and we shouldn't read anything about it as far as the government or people of egypt are concerned. but what we should do is be working with the egyptians. they've been a long-time u.s. ally to be able to put down the problem, additional intelligence assets they need and take from them information they may have gathered to help us and others in yemen and libya and some place else. >> the warships, thank you, general. >> thank you don. >> appreciate it. we'll be back with more breaking news happening overseas and here in the united states with the chicago teachers strike right after this break. ♪ [ male announcer ] introducing the all-new completely re-imagined 2013 chevrolet malibu. sleek new styling... sophisticated dual cockpit design, and sport ulpted sea
chamber of commerce. what is the message, good morning. >> apart from just jobs and the economy and it's laser like focus that the romney campaign has had in recent months. they are making the argument that there is so much upheaval around the world and domestically as well that the framework of the election needs to change from jobs and the economy to a change of president on all fronts. the romney campaign saying that president obama amounts to a status quo reee hreb. i re-election. if change matters to the american people they should vote for mitt romney. romney will point out that president obama promised to make immigration reform a priority and he will suggest that that is yet another example of a broken obama promise. mr. romney will also go on and detail a little bit about how he would reform immigration law and the hispanic vote is obviously incredibly important not only in california but across the country. mr. romney trails by a 3% margin. in that regard mr. romney is off the pace. it's generally accepted that a republican needs to get well over the mid 30s in order to be tr
% unemployment. twelve.8% unemployment in st. lucie county. the chamber of commerce, stewart and jensen beach and palm city and martin county. they do not look to grow and expand and i don't know what the president is talking about. stuart: what do you make of what the president said last night. your opinion on that. he said cut the deficit over the next ten years. create a million new manufacturing jobs in four years, cut oil imports in half by 2020 and have 100,000 new math and science teachers. >> the stimulus was supposed to help us hire a bunch of teachers and that is not the important part of the federal government and more of a payback to the national education association and a lot of manufacturing jobs he is looking to create. not right to work states like florida and we remember what the administration did as far as going after boeing when they tried to open a plant in south carolina. the president said he would cut the deficit in half and what have we seen? four straight years of toil and dollar deficit of $1.2 trillion and when you look at fiscal year 2013 budget the debt that he
? we have a prime example right here in the center of america commerce. that's next. hmm, it says here that cheerios helps lower cholesterol as part of a heart healthy diet. that's true. ...but you still have to go to the gym. ♪ the one and only, cheerios to meet the needs of my growing business. but how am i going to fund it? and i have to find a way to manage my cash flow better. [ female announcer ] our wells fargo bankers are here to listen, offer guidance and provide you with options tailored to your business. we've loaned more money to small businesses than any other bank for ten years running. so come talk to us to see how we can help. wells fargo. together we'll go far. charles: israel is always a lightning rod politically. but it's also become crucial place for investing, especially in pharma and high-tech. adam shapiro is live at the innovate invest israel conference in manhattan. adam, newscorp chairman and our boss rupert murdoch is speaking to kick this event off, huh? adam: he did kick the event off. he did speak to the people who have gathered here. actually quoting fr
want out of these relationships longer-term? we want stability. we want free trade and commerce. we want the trade routes open. we want help on counterterrorism. we would support for our alliances in the region above all israel and that means each of the. it means to live up to commitments. if it doesn't we need to talk about how to withdraw financial. connell: you don't think or how do you think president obama for whom you worked as ambassador to china in your most recent position because you ran for the republican nomination for president this time around but how do you think president obama has handled things since the news broke and does he need to be more aggressive in dealing with these host countries? >> there was an appropriate expression of condolences toward the families who lost loved ones. the stephens family and three others. the president talked about taking after those who were the perpetrators of these murders. that is something all americans ought to be able to rally around. where the president has not given any kind of clear articulation is where we go from here a
for the company? is this the reaping for all of the things they have sown over the past few years? >> e-commerce is only 20% and amazon is forward position for that. i think it is early as far as retailers are concerned and i think the heavy investments over the past two, three years, you're starting to reap the benefits of that. you're seeing that in the financial results more so in the top line but i think you will see that in the back half of 2013 when you start to see margin expansion. >> are your target is 400. >> it is 400. >> and, aaron, do you feel the same way? >> we have a market perform right now. we do like the fundamental outlook for amazon although it is currently 70 times or 2013 earnings and we think it is pricey a lot of the positives at these levels so we would wait for a lower entry point. >> valuation a concern at all. >> right now the stock is trading 26 times cash multiple and grows loes to 40% so trading at diskupter free cash flow growth so not a concern for me. i think amazon is in the position as i said in terms of e-commerce. you have seen it being transformational and
of commerce. john harwood has the latest from the campaign trail. that's after the break. [ male announcer ] for the dreamers... and those well grounded. for what's around this corner... and the next. there's cash flow options from pnc. solutions to help businesses like yours accelerate receivables, manage payments, and help ensure access to credit. because we know how important cash flow is to reaching your goals. pnc bank. for the achiever in you. a short word that's a tall order. up your game. up the ante. and if you stumble, you get back up. up isn't easy, and we ought to know. we're in the business of up. everyday delta flies a quarter of million people while investing billions improving everything from booking to baggage claim. we're raising the bar on flying and tomorrow we will up it yet again. here on cnbc. i'm joe kernen along with andrew ross sorkin. becky is off today on this monday in the year 5771. >> 5773. >> 73? >> i believe 5773. am i wrong? >> i thought you just told me 5771. all right. making -- making headlines -- >> 5773. >> okay. i'm two years behind. anyway, presiden
definitely have some growth on the ground side which is typically driven by consumer activity around e-commerce so that is a secularly growing piece of their business. the manufacturing side when they preannounced early in september is really where they're citing most of the weakness and that impacts their express, which is kind of their higher revenue per piece move, higher margin moves in the air at least and that is part of the problem they're seeing, so it's a little bit of a two-fold situation with the consumer through e-commerce doing relatively well, the manufacturing side being softer, impacting express. >> we're trying to glean whether the economy itself, how much we can actually derive from what fedex is saying here about the overall economy, where kind of our theme today, we talked about the shock and awe from the fed, and whether ben bernanke and company actually knew something was worse than they thought or whether they're doing this because they have a dual mandate. do you think that the economy is worse than we think right now, christian, from fedex? >> sure i think from fedex as
-- in the world of trade and commerce. they have to understand it cannot take away jobs on an unfair basis. >> he and the seven countries -- companies that operated here and went to china. pioneers. you cannot stand up to china when all you have done is sent them our jobs. >> watch and engage was seized and as the campaign -- with c- span as the campaign's move toward the elections. the first debate will take place on wednesday, october 3. audience members will get their chance to ask questions in a town hall debate on tuesday, october 16. the final debate on foreign policy will take place november 2. follow our coverage on c-span, c-span radio, and online at c- span.org. >> i think there are a lot of anti-obama books out there. there are a number of books critical and defending the president. i do not want to be either one of those books. i want to describe an answer what i thought was the most important and interesting questions. look at barack obama, -- barack obama as a character. he is a fish out of water. he has very little executive experience. his entire life is that the law professor's
by the fed, it's not commerce, it's not fiscal, is it keynesianism thinking that we can just do this and solve everything by throwing money at it or is it not? >> that is very interesting. i've never thought of it in terms of keynesianism versus nonkeynesianism. trichet calls them nonstandard measures. in the world of central banking, when you don't have -- when you have a fiat currency, this is considered to be class ib centrclass being central banking. it is the core discussion of our time in terms of the economic staft the world. >> the people that hate keynesian inch haism hate this,e might be something to it. the austrian school, those guys are -- the ones that are alive are rolling the eyes and the ones dead are rolling in their grave, i think. >> i would say this, that most of the people who hate keynesianism would also like to see tax cuts and ultimately those two things are about -- are similar in that they're just trying to inject more money into the economy. does the government spend the money or do you cut taxes and give it more to people for them to spend the money.
tech. and the degree to which it can move into other areas of vi industry and commerce and absolutely devastate what already exists there and how many hundreds of companies are under threat. for example, the hotel industry is petrified as to how google develops its travel search capabilities and the sort of economic model that it decides it will impose on the rest of the industry because it's so dominant. this is not just a pandora story. this is going to be replicated time and time again, isn't it? >> yeah. go back to what's going on in maps. there's lots of -- when you're looking at all these worlds colliding and how these devices, meaning phones, smartphones, tablets, these are becoming the central driver of your life. people are using computers, less people are watching tv. these devices are taking over more and more functions of your daily life. as they do that, the idea is, why don't you want to control more of the services that flow every day over these devices when you know how to deliver a great user experience? and so this isn't apple saying, we want to make lots of money in
markets relatively flat in europe overall. still some of the banks have rallied. commerce bank, deutsche bank, of course, tomorrow is going -- where the two co-ceos lay out strategy. that's important for people in new york disgruntled that the libor scandal hit there. an important one to watch tomorrow. we've spoken a lot about china on the program today. see some of those mining stocks rising in london. they are off earlier highs. greece is getting very interesting. troika arrived in athens over the weekend and rejected the $12 billion -- 12 billion euros of cuts on the ground there from the coalition party. the negotiations appear quite tense there. what is interesting, and this may have to do with the sort of comments we had out of the germans again over the weekend suggesting that a greek exit from the eurozone is not palatable, not what berlin wants. it's the degree to which some of the greek stocks again today have rallied. again, off our highs. the national bank of greece has done well. a lot of the banks in greece are doing well as people get more optimistic about the stability o
and commerce, and that's supporting our alliances, first and foremost, israel. and that's where it needs to be packaged. and i haven't heard a clear articulation on either side about how you begin to put those pieces together in the middle east. we all know it's broken, but at some point, we've got some work ahead in terms of putting the pieces together. >> ambassador jon huntsman, thank you very much. it's great to see you. >> thank you. >> it is great to see you. say hi to everybody. >> will do. >> could he have given obama a run? >> he tried. >> he tried. i mean, you know. you've got to win the nomination first. >> you've got to win the nomination first. >> yeah. >> i tell you what, you know what? he had a difficult launch. >> whatever. i guess it's not good coming from me. >> conservatives by the end of the campaign realized he had the most conservative record. but he just could never connect with the base. >> isn't it about winning? >> it is about winning. >> right. >> i mean, it's only about winning. >> i thought it was. >> it's only about winning. >> until now. >> it's only about
, for at the time constitutional reasons. at that point they didn't realize that the commerce clause of the constitution was not very relevant, they still worried about that, and that's why the program was designed that way, and that's one of the reasons it's so difficult to get states to often cooperate with the federal government. as has been alluded to, there was a gao study that found, um n fiscal year 2009 nine different federal agencies spent $18 billion to administer 47 different training programs. um, the report points out that almost all federal employment training programs including those with broader missions such as multipurpose block grants overlapped with at least one other program and that they provided similar services to similar populations. so there's just simply a lot of duplicative services being provided, and often times not provided in a very coherent fashion at least, um, from my standpoint as someone -- and i should make clear, there are a lot of people in this room that have worked actively in the department of labor. i'm not one of them, so i defer to them.
and there was even talk from a china researcher tied to the ministry of commerce that perhaps china should actually jump jgbs, japan government bonds n order to enact some sort of sanction. >> it's a frightening prospect. of course, it's something we've often heard when we talk about relations between u.s. and china given how much debt china also holds and if you do that, you hurt yourself if you're chinese because the value goes down. japan has no shortage of issues on the largest context. my friend has been on many times and hopefully will be on again in a few weeks. we'll have him talking about japan and the keynesian end point when they get to that point, in his opinion, at least, revenues don't even meet. tax revenues don't even meet debt payments. it's not that far off. others say it is nonsense and they have proved at least the critics wrong for a while. >> a lot of questions about whether or not whether or not this will be how it will end with bernanke. this one with demographic issues like japan's, testing the relationship with china. it's not unthinkable that ten years from now the prospe
to be a responsible partner in the world of trade and commerce, they have to understand they cannot take away jobs on an unfair basis. >> investing in companies that uprooted from here and went to china. you cannot stand up to china when all you have done is send them our jobs. >> watch and engage with c-span as the campaign to toward the elections. foreign policy will be the debate of -- will be the focus of debate no. 3. audience members will get a chance to ask questions on tuesday the 16th. the final debate on foreign policy will take place the 22nd. watch the vice president debate october 11. >> maxine waters was cleared of ethics by listen charges today. her chief of staff, who is also her grandson, still faces an inquiry. they determined there was no evidence that representative waters pressured the treasury department to give a bailout to the united -- the minority on the bank. the committee findings concludes a two-year investigation and is one hour 40 minutes. >> first included allegations of the investigation and the 111th congress violated represent of waters due process rights. they u
Search Results 0 to 45 of about 46 (some duplicates have been removed)